May Sochi Rental Summary

The residential rental market in Sochi's Adler District (home to the Olympic Park) continues to tighten.  We are working with several companies renting apartments and are seeing a rapid absorption of available capacity and rising prices in the few newer buildings in Adler's center that conform to western standards.  A one room apartment with western standards will cost from 40,000- 50,000 rubles per month (about $1,330 to $1,660).  A two room apartment will cost from about 65,000 rubles to 80,000 rubles a month (app. $2,160- $2,660).  A larger apartment with three rooms, runs from 90,000- 120,000 + rubles each month (app.$3,000- $4,000).   Utilities will vary according to size and location.  Bear in mind, that Russian apartments consider rooms, rather than bedrooms, the standard.  A room is anything other than a kitchen, bathroom, corridor or balcony (living rooms frequently double as bedrooms). 

Adler Rental

Central Sochi, regarded as a more desirable location because of its physical beauty, shopping, restaurants and a larger number of western-style apartments, is now somewhat less expensive than central Adler District.  The distance between Adler (and the Olympic Park) and central Sochi is only about 25 kilometers, but the commute can be long.  Nonetheless, for those who work in the center or with flexible schedules, Sochi is becoming an increasingly attractive opportunity because the ruble goes further.

Sochi Rental

One room apartments with western standards in the pedestrian center of Sochi will run from 35,000- 60,000 rubles per month (app. $1,160- $2,000).  Two room apartments cost 40.000 to 60,000 rubles each month (app. $1,330. $2,000).  An apartment with three rooms  (85 - 100 square meters) will run from 70,000 to 100,000 rubles monthly (app. $2,330- $3,330) and up to 120,000 (app. $4,000) for the best and largest apartments on the best streets.  There are large, two-floor penthouses with spectacular views available at monthly rentals of 125,000 to 300,000 + rubles (app. $4,160- $10,000).

Penthouse View

Office space in Adler runs about 1,200- 1,500 rubles per square meter per month ($3.68 to $4.60 per square foot per month).  Central Sochi offices also typically costs from 1,200 to 1,500 rubles per square meter per month.  A new mixed-use building in the center with sweeping views of the city offers offices from as small as 18 square meters to a larger suite of about 220 square meters at 1,300 rubles per square meter per month ($3.99 per square foot per month). The new Class "A" building (shown below) near the Sochi City Administration has offices ranging from 2,500 rubles to 5,000 rubles per square meter per month ($7.68 to $15.35 per square foot per month).

Please contact me directly for workforce accommodations, office rentals and all desination management needs, including transport, documentation, communication and event management: bruce@destinationsochi.com

New Office Building

Sochi Newsletter- May 3

Sochi Newsletter- May 3 has been sent to subscribers.  Included are photos and details about May Day in Sochi and other recent developments in Sochi.  Please follow this link and sign up for the newsletter.  Next week, in the newsletter, we will include a summary of our survey of office and residential rental prices for central Sochi and Adler. We are currently working with outside groups on workforce accommodation.  It looks like the predicted rise in prices is happening already.  Prices in Adler for apartments with western standards in the best locations are eclipsing levels in central Sochi.  

Workforce Accommodation in Sochi

The situation for companies seeking workforce accommodation in Sochi is complicated by several factors.  One issue is that with traffic and construction workers will face commuting delays, even when living relatively close to their workplace.  Apartments in older buildings in Sochi are individually owned and new buildings are usually quickly sold out to indiivdual homeowners.  Sometimes the process is completed even before the building is finished.  So, there are no large apartment complexes that are owned and managed as rental properties. This means assembling a number of apartments in one location will be very difficult. 

We have a database of apartment owners and projects where rentals are available.  The objective is to identify properties with the standards that foreign companies and workers will expect.  Then we find individual owners who rent apartments in those projects.  Since there are very few owners with large inventories, it is complicated. We also anticipate the shopping and transportation needs of workers, so that when companies come here, they will have the information necessary to make the best selection possible.  We also provide help with negotiation and legal documentation and have several packages of services to meet the homefinding and eventual departure needs of executives and workers coming to Sochi. 

Please visit the site, DestinationSochi.com to learn more about our services and the ways in which we can offer expert help.   The site has contact information, also.  

We advise companies and organizations to contact us as quickly as possible to discuss planning.  Because of capacity issues, costs will rise and favorable locations will be unavailable for late entrants.